Bithumb, a South Korean crypto exchange’s initial public offering (IPO), which was earlier planned for 2027, has now shifted to sometime after 2028.

According to a recent report published by Maeil Business News Korea, Bithumb CFO Jeong Sang-gyun said that the firm had signed an “IPO advisory contract with Samjong KPMG” and added, 

We are currently in the process of preparing to strengthen accounting policies and internal controls, and as we are pursuing the industry’s first listing, we are conducting thorough internal verification.

Reason behind the delay

The firm believes this delay is not because of negligence but a “strategic move” to “maximise corporate value” with the ever-changing laws and regulations.

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